Asia Pacific Embedded Security Market Size, Share & Industry Trends Analysis Report By Application, By Offering (Software, Hardware, and Services), By Security Type, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Embedded Security Market would witness market growth of 6.3% CAGR during the forecast period (2022-2028).
Many embedded systems carry out mission-essential or safety-critical operations that are critical to the system's actual purposes and environment. Embedded system security affects a wide range of industries, from aerospace and defense to consumer electronics. The Internet of Things (IoT) is starting to connect modern embedded devices, which opens up fresh attack vectors. The most secured embedded system is one that is switched off, followed by one that is entirely isolated. Embedded software security was less essential when embedded systems were isolated technological islands with little data. Embedded systems are increasingly connected to a communications network, exposing them to a wider range of threat actors.
Traditional cybersecurity solutions are difficult to deploy on IoT devices and integrate them into an organization's security deployment due to their resource limitations. This problem can be solved using firmware-level security in embedded devices, which allows for easier device monitoring and administration. These factors are constantly propelling the demand for embedded security solutions and hence, the embedded security market is anticipated to observe several significant growth prospects throughout the forecast period.
The use of such security solutions has become necessary due to an increase in the number of attacks on every connected mobile device. In addition, the growing number of mobile subscriptions in this region propels the demand for embedded security solutions all over the world. The continuous trend of government-mandated digitalization in developing countries is driving up demand for secure IoT as well as embedded device infrastructure. The market for embedded security systems is projected to be fueled by new businesses from China and Japan developing innovative solutions in the embedded security area. The growing number of mobile subscriptions across the region is expected to boost growth even more.
The China market dominated the Asia Pacific Embedded Security Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $976.6 million by 2028. The Japan market is anticipated to grow at a CAGR of 5.7% during (2022 - 2028). Additionally, The India market would showcase a CAGR of 7% during (2022 - 2028).
Based on Application, the market is segmented into Payment Processing & Card, Smart Identity Cards, Industrial, Smartphones, Wearables, Automotive, and Others. Based on Offering, the market is segmented into Software, Hardware, and Services. Based on Security Type, the market is segmented into Payment, Authentication & Access Management, and Content Protection. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Renesas Electronics Corporation, STMicroelectronics N.V., Infineon Technologies AG, NXP Semiconductors N.V., Texas Instruments, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Thales Group S.A., IDEMIA SAS (Advent International, Inc.), Qualcomm, Inc., and Microchip Technology, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Payment Processing & Card
- Smart Identity Cards
By Security Type
- Authentication & Access Management
- Content Protection
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Renesas Electronics Corporation
- STMicroelectronics N.V.
- Infineon Technologies AG
- NXP Semiconductors N.V.
- Texas Instruments, Inc.
- Samsung Electronics Co., Ltd. (Samsung Group)
- Thales Group S.A.
- IDEMIA SAS (Advent International, Inc.)
- Qualcomm, Inc.
- Microchip Technology, Inc.
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